Tavaborole is an oxaborole antifungal indicated for the topical treatment of onychomycosis of the toenails due to Trichophyton rubrum or Trichophyton mentagrophytes. Tavaborole, chemically known as 5 fluoro-1,3-dihydro-1-hydroxy-2,1-benzoxaborole, is represented by compound of formula I,

Tavaborole is currently marketed in United States under the trade name KERYDIN™ topical solution, 5% contains tavaborole, 5% (w/w) in a clear, colorless alcohol-based solution for topical use. Tavaborole is a white to off-white powder.
In one embodiment, the present invention provides a novel process for the preparation of tavaborole which provides a better purity profile and which can be easily performed on industrial scale.